Global Industrial Control for Process Automation Market - Segmented by Solution (Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), Product Lifecycle Management (PLM)), Component (Industrial Networks, Industrial Robots, Machine Vision), Communication Protocol (Wired Protocols, Wireless Protocols), End-User Application (Electrical Power, Oil and Gas Industry, Manufacturing Industry), and Region - Growth, Trends, and Forecast (2018 - 2023)
The industrial control for process automation market is expected to register a CAGR of 7.24% during the forecast period of 2018-2023. The scope of the report is limited to the type of solution, components, communication protocols, and end-user applications. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Industrial control network is used to examine and control physical equipment in the industrial environments. Industrial control system improves product quality, increases efficiency and brings uniformity in production.
Increasing industrial automation, rise in infrastructure investments and rise in safety and security concerns are a few factors driving the market, while high capital investment and lack of skilled labor is hindering the market growth.
Rise in Infrastructure Investments
The industrial control systems have reached the saturation level in established regions, such as Europe and North America. The strongest growth opportunity lies in the emerging economies. Industrial control system is used to examine and control physical equipment in the industrial environments. With increasing investments in infrastructure, the need to monitor the equipment has increased. The companies are investing in roads, rails, air-related infrastructure, inland waterways, and sea related infrastructure. Industrial control systems in countries, such as China, are on upswing along with other emerging economies globally owing to increased investments in infrastructure. Moreover, the vision of fully automating the industry is driving the growth of this market.
An articulated robot is a robotic arm that uses rotary joints to execute accurate movements constantly and steadily. Articulated robots are being increasingly used in the manufacturing sector for different applications, such as, assembling, spraying, cutting, welding, dispensing, painting, material handling, and sealing. These robots offer greater degrees of freedom than any other robots. They provide the manufacturer with additional versatility, thereby, make them more attractive. These robots capable of enhancing the company’s productivity through improved accuracy and speed, thus, enhancing quality of the product being produced. Many industries are further deploying these robots to automate processes, adding to the demand for these systems. These robots are widely used in the automotive industry, as they are more reliable and cost-effective when compared to others. Inclination towards application-specific robots and the need for efficient operation in assembly lines are the growth factors that are making the articulated robot segment lucrative in the coming future.
Key Developments in the Market
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